We Are…
March 22, 2009
We Are = As We Were + What We Learn And Do Differently
The above is inspired by Johnson Tang.
Thanks Johnson, you’ve been a great contribution!
The Solution To The Financial Crisis And How To Get Out Of It by Manoj Sharma
March 17, 2009
You are facing challenging time. And as brilliant as you are, you are in uncharted waters.
You started off trying to maintain the gradient of the good last couple of years and are now quite happy to keep your nose above water. The issues to be addressed and the obstacles to be surmounted might even have started to tear at your very fabric. Hopefully, to you, the difficulties have not become a downright futile endeavour.
The good thing is that you’re not alone. The bulk of the world and the overwhelming majority of industries around the world are in the same predicament. The greed induced bubble, the lack of sustainable thinking and the subsequent fear caused by the drying up of credit has suggested that we may be in the biggest downturn of the last 100 or so years.
Yes, you’re right, the earthquake has hit, the aftermath is slowly getting clearer but the aftershocks, which might be worse, have yet to be felt.
Now, more than ever, the world requires clear-minded, transparent and visionary strategies that can only be provided by clear-minded, transparent and visionary leadership.
The choices you make today, the direction you set now, the values you hold dear at present, will without a shadow of a doubt determine the collective future you as a leader will create. This is true whatever the position you might be leading from.
You need wisdom, knowledge, competencies to produce the results you desire. To paraphrase Confucius, since experience is the most bitter way to get the above four things and imitation seems not to be an option in the present climate, then reflection is what you’re left with.
Since you’re reflecting….
1) Reflect on how we got into this mess.
2) Reflect on the impact of this mess on the present economic, social and political climate.
3) Reflect on how your business can seize the opportunity to make a difference.
4) Reflect on what you need to do to strengthen your and other people’s talent.
5) Reflect on re-invention your value proposition.
6) Reflect on setting a new tone for your industry.
7) Reflect on putting humanity at the core of what you do in a sustainable way.
8) Reflect on emerging stronger, faster and better.
And when you’re ready, know that we at ManojSharma.com are here for you!
Re-Examine Your Business-To-Business Sales Process by Manoj Sharma
March 3, 2009
You know as well as we do, that your organization’s success, in an ever competitive and increasingly turbulent international marketplace,
corresponds directly to your sales force’s ability to pick up and assist to solve the challenges facing your potential customers. You also know, you need to give them the best possible sales development initiative to create high-value solutions that give them a competitive edge.
Read the following suggestions carefully as they will catalyze just that. Its time you re-examine your business-to-business sales process and give your entire sales team a winning edge, so your organization can lead in tomorrow’s marketplace, starting today.
Revenue Is Vanity
Any top Chief Financial Officer will be able to tell you that “Revenue is Vanity, Profitability is Sanity and Cash Flow is Reality”.
Every businessperson is aware that revenue, profits and cash flow are
intrinsically tied into sales. If you have poor sales, you have a poor business model and ultimately a poor organization or soon to be non-existent organization. Sales, you see, is the heartbeat of any organization. It is what makes it tick. Said simply, sales becomes revenue, and that’s where it all starts.
All good organizations have good products, services and/or ideas that
are a fundamental component of the foundation upon which they are
built. What differentiates the good from the great however, is that the
great also provide their sales professionals with a world class sales process and the mind sets and skill sets to use it to great effect.
A Win / Win / Win Sales Process
Does your organization have what I call a truly win / win / win sales
process. A sales process through which your customer wins, the sales
person wins and your organization wins too. Or is your sales process such that only two of the three parties win?
To have a win / win / win sales process requires a highly comprehensive, flexible and long-term approach to building both revenue and relationships. Peter Drucker, one of the most famous management gurus of the last few decades once stated, “The purpose of a business is to create and keep a customer.” He also imparted to the business community two other gems (amongst many). The first being, “There is nothing so useless as doing efficiently that which should not be done at all.” and, “To focus on contribution is to focus on effectiveness.”
Taken collectively, essentially what Peter Drucker was alluding to, is that, the purpose of all businesses (and your business too) is to create a customer by learning to be a contribution (adding value) to the customer. Thereafter, to not partake in activities that do not contribute (add value) to the customer. And finally to continuously be a contribution as it will assist you to keep your customers.
Factor the simple wisdom of the above into the below sales process and you can be sure your organization is well on it way to creating and
keeping a customer to boost your revenues, your profits and your cash
flow too.
Just one last but important point to note before we begin – Be highly
flexibly while using this process as the ordering will change in your actual sales process, depending on the nature of your business and the preference of your customers.
1) Be Warm And Welcoming in your Introduction (WAWI)
It never hurts to be full of life, to bring cheer and optimism to your
customers. They world can be a monotonous and gloomy place
especially in adverse market conditions. Your first purpose is therefore to bring sunshine with you everywhere you go. People love “high-tones” that brighten up their day. So start by being one, be it over the phone, over emails or in a face-to-face environment.
2) Focus on Building Rapport And Trust (BRAT) by being genuine and truthful at all times.
Forget all that you have learned as a sales person about matching and
mirroring body language. Forget all that you have been told about using elaborate language patterns to win people over. The above two things are disingenuous and above all are manipulative.
Nothing works greater magic in building rapport and trust than simple
being genuine and truthful. People resonate to genuine and truthful
people, so just be genuine and truthful. If you do so, your body language will match and mirror automatically anyway.
3) Seek to find out their needs – the Problems, Issues, Challenges, Obstacles, Difficulties, Opportunities and Solutions (PICODOS) they are facing.
The real reason which you should be in a sales conversation with a
potential customer is that you are there to solve their problems, assist with their issues, overcome their challenges, remove their obstacles, ease their difficulties and create new opportunities for them. That is what they will consider paying you for. The greater the value of the solutions you are able to provide them, the greater the monetary reward they would consider passing on to you.
Too many times, I’ve found the sales person is more skilled at telling the customer what they think the customer wants to hear as opposed to finding out the customers true needs and providing them with the
solutions that are truly best for the customer.
4) Explain how your products, services and/or ideas will assist to Diminish, Disappear & Dissolve (DD&D) their problems, issues, challenges, obstacles, difficulties and assist them capitalize on the opportunities and solutions at hand.
Quantify and qualify the degree to which your products, services and/or ideas will Diminish, Disappear and Dissolve your customer’s problems, issues, challenges, obstacles and difficulties. This will make it easy for them to appreciate your true value proposition. It will also be easier for them to internally justify your value proposition to them.
The clearer you make, what I call the DDD Factor the easier for them to become your customer or to remain your customer. Think about it.
5) Demonstrate what Differentiates & Distinguishes (D&D) you in terms of their gain, through your competitive advantages and unique value propositions.
“Why should I do business with you?” This is a question that is always on the mind of your potential customers. In addition to that they are always asking themselves, “What does he or she bring to the table that I can’t get from someone else?” Most sales people attempt to answer this question by telling their customer what differentiates and distinguishes them. This is an error. Your role is not just to tell, them but, to ultimately show them. Have them experience first hand the efficacy of that differentiates and distinguishes you and your customers will assist you create more customers.
6) Assist them to appreciate their Benefits by exploring their Upside and Downside (BUD).
This point goes back to point number 2. While most sales people only
explore the upside for fear that the downside may work against them.
Your role as a top-notch sales professional, engaging a world class sales process is to do both.
Talk about the upside, and also talk about the downside. This maintains expectations and most importantly allows you and your customer to build a two-sided genuine and truthful relationship.
“Manoj, what’s the value of this?”, you may ask. Building long-term relationships is the answer. Most sale people are hit and run specialists. You don’t want these sorts of sales people serving you and therefore you too shouldn’t be one.
Furthermore, there has never been and there will never be a perfect
solution that works all the time, for all people, all situations. The truth is your products, your services and your ideas are always “work-in-progress”. Gain that understanding with your customer and focus on discovering what’s outstanding that you can assist them further with.
7) Request a Moving Forward Agreement (MFA)
Once you have done all of the above, don’t hesitate to ask for something that seals the deal. It sounds simple but way too many sales people are in a never-ending loop of “exploring”. Don’t get me wrong, by all means do explore, but how fast you cover step 1 to 6 will determine how fast you can be of value to your customer. So know that asking for an agreement allows you to be of greater service, faster.
8) Deliver On your Promises (DOP)
Deliver what you promised, this as straightforward as it gets.
9) Get Feedback And Testimonials (FAT)
Do get feedback and testimonials. Feedback is important as it assist you to improve your products, services and ideas. While testimonials are crucial towards breeding greater confidence especially in those who have yet to hear of you, your brand and your value propositions.
10) Seek to Build Long-Term Relationships and ask for Referrals (BLTRR).
Know your customers as intimately as they will allow you to. Find areas of common interest outside of work.
Also do ask them for referrals if it is appropriate. A referral is a measure of trust. If they did not get sufficient value in their relationship with you they will be hesitant to refer you on. And if they did get sufficient value the referral you receive will already have trust in you and thus make your ability to contribute to them easier.
As we come to the end of the above 10 points to assist you re-examine your business-to-business sales process, please note at no time does the above process warrant pressure, manipulation or other undesirables.
Below is a summary that all your sales people need to be able to commit to memory. If any one of the following steps is not done completely, consider the process incomplete and endeavour to complete it and close the loop.
1) WAWI (Warm And Welcoming Introduction)
2) BRAT (Build Rapport And Trust)
3) PICODOS (Problems, Issues, Challenges, Obstacles, Difficulties,
Opportunities and Solutions)
4) DD&D (Diminish, Disappear & Dissolve)
5) D&D (Distinguish & Differentiate)
6) BUD (Benefits, Upsides and Downsides)
7) MFA (Moving Forward Agreement)
8) DOP (Deliver On Promises)
9) FAT (Feedback And Testimonials)
10) BLTRR (Build Long-Term Relationships & Referrals)
So, whether you have a sales team of 1 or 10,000 ingrain this process into your team until it is second nature in the same way a professional golfer ingrains their golf swing into muscle memory. This will require a tremendous amount of commitment and coaching, but it will be well worth it as you’ll see your revenue, profits and cash flow grow.
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